Joseph Shields

BREEDERS AND CUP CLASH OVER STAKES PROGRAM

By Ray Paulick Last week’s decision by the Breeders’ Cup board of directors to suspend the program that put $6 million in purse enhancements into stakes races around the country in 2008 has brought an angry outcry from breeders who nominate their foals and stallions to the Breeders’ Cup in part because of the incentive […]

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BREEDERS’ CUP STOCK MARKET LOSSES EXCEED BUDGET DEFICIT

By Ray Paulick While the Breeders’ Cup board of directors acted swiftly to reverse last week’s suspension of the $6-million stakes supplement program for 2009, somewhat overlooked in the swirl of controversy was the organization’s loss of $11 million in the stock market this year. Breeders’ Cup president and CEO Greg Avioli said the […]

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BC MEMO OUTLINES INVESTMENT HISTORY

By Ray Paulick Breeders’ Cup chief financial officer Matthew Lutz has responded to recent questions about the organization’s investment fund in a memo distributed to the Breeders’ Cup board of members and trustees and posted on the Breeders’ Cup Web site, www.breederscup.com. The questions arose after last week’s board of directors vote to suspend […]

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REBUFFED BY CUP

On the surface, it seems unfathomable that the 40-some members and trustees, founding members and officers of the Breeders’ Cup who select the organization’s operating board of directors could have rejected Richard Santulli, whose business acumen is such that he is on the short list of candidates to succeed Warren Buffett, the “oracle of Omaha,” […]

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BREEDERS’ CUP PART II: OLD GUARD VS. NEW GUARD

The fight for control of the Breeders’ Cup began in earnest in January 2006, shortly after the organization’s board of directors ratified a change in bylaws that would end its self-perpetuating nature and give anyone who nominates a foal or stallion to the program the opportunity to vote in an annual election. The battle […]

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